Breaking Boundaries Understanding Cross-Border Insolvency.pptx

Cross-border insolvency is a situation where a debtor's assets or creditors are in located multiple jurisdictions.

1. Introduction to Cross-Border Insolvency Cross-border insolvency is a situation where a debtor's assets or creditors are in located multiple jurisdictions.  It presents unique challenges due to differences in legal systems and creditors' priorities.  Cross-border insolvency regulations provide an effective and efficient mechanism for handling such cases, promoting cooperation and coordination across different jurisdictions.

2. Incorporating Cross-Border Provisions in the Insolvency and Bankruptcy Code  Section 234 of the IBC empowers the Central Government to make agreements with foreign countries to enforce its provisions relating to cross-border insolvency. Section 235 allows the Adjudicating Authority in India to issue a letter of request to a foreign court or authority seeking assistance in insolvency proceedings. Breaking Boundaries: Understanding Cross-Border Insolvency

3. Companies Involved in Cross-Border Insolvency Under the IBC Jet Airways  Videocon Industries  Essar Steel  Breaking Boundaries: Understanding Cross-Border Insolvency

4. Challenges in Managing Cross-Border Insolvency Varying legal frameworks Lack of uniformity in recognition of foreign proceedings Coordination among numerous stakeholders Breaking Boundaries: Understanding Cross-Border Insolvency

5. Overcoming the Challenges Strengthen the institutional framework for cross-border insolvency Enhance cooperation with foreign jurisdictions Promote convergence with international practices  Implementing the UNCITRAL Model Law on Cross-Border Insolvency Fostering greater awareness and capacity building among insolvency professionals, judges, and stakeholders  Indulging in training programs, workshops, and knowledge-sharing platforms related to law. Breaking Boundaries: Understanding Cross-Border Insolvency

6. Conclusion Cross-border insolvency presents unique challenges that require a coordinated and cooperative approach among different jurisdictions. Ancoraa Resolution, a leading firm in dispute resolution, offers expertise in navigating cross-border insolvency matters, ensuring optimal outcomes for all parties involved. Breaking Boundaries: Understanding Cross-Border Insolvency

7. Thank You